A reworked bill that would allow Colorado’s illegal immigrant high school students to pay reduced tuition at state colleges and universities strikes the right balance.

Those who have attended high school in Colorado for three years would be eligible for a new class of tuition — more than in-state tuition, but far less than out-of-state tuition.

The ASSET bill, as it is being called, would offer hope for students who are educationally stranded because of their immigration status.

And it is financially appealing to worried taxpayers because it would deny those students a state subsidy that reduces tuition and any state-funded, need-based financial aid.

Colorado legislators ought to pass the bill.

Here’s an example of how it would work: In-state students who attend the College of Arts and Sciences at the University of Colorado at Boulder this year pay tuition of $7,672. If the new class of tuition existed — the rate for illegal immigrants — it would be $9,532 a year.

The higher tuition is a result of not getting the state subsidy. Even so, the so-called “standard rate” is far more affordable than the out-of-state tuition, which illegal immigrants must now pay, of $28,850 annually.

There are other elements of the bill that make it appealing. Colleges and universities could opt out if they did not want to participate. Students will be required to seek legal status if they are not already in the process of doing so. And the measure is limited to students who have graduated from Colorado high schools.

Many of these students were brought to this country as infants or toddlers. They know no country besides this one. Those eligible for this tuition rate have succeeded academically and have managed to defeat the achievement gap.

Denying them an affordable path to an education is denying them a future. Critics make a valid point when they say that under current laws, these students won’t be able to legally use their education to get a job in the United States.

Their hope — our hope — is that Congress will finally take up comprehensive immigration reform and provide a path to legal status for these students and other illegal immigrants who have a lot to offer to this country.

But in the meantime, what is the harm in allowing these students to pay a significant tuition bill without state subsidy so they may better themselves?

On Thursday, the bill, sponsored by Democratic Sens. Angela Giron and Michael Johnston, cleared an initial hurdle when it passed the Democratic-controlled Senate Education Committee.

It still has a long way to go, particularly in the Republican-controlled state House.

But softening rhetoric from prior opponents seems to indicate this year’s version of the bill may succeed where last year’s failed.

We hope so. Coloradans should be willing to extend this rate to students who have the gumption to better themselves.